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nt nces Business transactions completed by Hannah Venedict during the month of September are as follows. a. Venedict invested $80,000 cash along with office
nt nces Business transactions completed by Hannah Venedict during the month of September are as follows. a. Venedict invested $80,000 cash along with office equipment valued at $24,000 in a new business named HV Consulting in exchange for common stock. b. The company purchased land valued at $50,000 and a building valued at $165,000. The purchase is paid with $30,000 cash and a note payable for $185,000. c. The company purchased $2,500 of office supplies on credit. d. Venedict invested an automobile in the company in exchange for more common stock. The automobile has a value of $16,900. e. The company purchased $5,000 of additional office equipment on credit. f. The company paid $1,700 cash salary to an assistant. g. The company provided services to a client and collected $7,600 cash. h. The company paid $635 cash for this month's utilities. 1. The company paid $2,500 cash to settle the account payable created in transaction c J. The company purchased $20,500 of new office equipment by paying $20,500 cash. k. The company completed $6,000 of services on credit for a client, who must pay within 30 days. 1. The company paid $1,900 cash salary to an assistant. m. The company received $4,500 cash in partial payment on the receivable created in transaction k n. The company paid a $2,500 cash dividend. Required: 1. Prepare general journal entries to reford these transactions using the following titles: Cash (101); Accounts Receivable (106); Office Supplies (108); Office Equipment (163); Automobiles (164); Building (170); Land (172): Accounts Payable (201); Notes Payable (250); Common Stock (307); Dividends (319); Consulting Revenue (403) Salaries Expense (601); and Utilities Expense (602) 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of the end of September
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